Action Policy Digest – April 2016

Autore :

Data: 18-04-2016

Tipo: Other

Tematica: Action Institute

Organized as a monthly newsletter, it presents an overview of the current international policy debate. You find below a selection of the best ideas from the most influential think tanks, structured in four areas: (i) Finance, (ii) Innovation and Development, (iii) European Affairs and (iv) Social Policy.

The ECB’s latest gimmick: Cash for loans” (CEPS). ECB on 10 March 2016 launched a new set of targeted longer-term refinancing operations. Find out more on TLTRO II here.

Good booms, bad booms: why only some credit booms end in a crisis” (VOX). Credit booms are not rare and usually precede financial crises. This column argues that credit booms start with an increase in productivity, which subsequently falls much faster during ‘bad booms’.

Is the oil price-GDP link broken?” (BRUEGEL). In the past, expectation-driven oil prices drops were good news for the EU economy. However, the declining importance of changes in demand and supply for oil raises doubts about whether we can still expect a positive impact on EU GDP.

Learning Entrepreneurship from other Entrepreneurs: Evidence from Italy” (VOX). Entrepreneurship often concentrates in certain geographic locations. Those who grow up in an area with higher entrepreneurial density are found to be more likely to become entrepreneurs themselves.

Helicopter drops reloaded” (BRUEGEL). Central banks have recently been scaling up their unconventional monetary policy measures. Discussions about helicopter money seem to be getting ever louder.


Technology at work: How the digital revolution is reshaping the global workforce” (VOX). In these days, economists debate the extent to which jobs will be lost due to technological innovation. This column explores whether technology is becoming more labour-saving and less job-creating.

Alternative perspectives on the Internet of Things” (BROOKINGS). In the coming years, the number of devices around the world connected to the Internet of Things (IoT) will grow rapidly. Who should coordinate the development of new IoT platforms?

Credit where (R&D tax) credit’s due” (VOX). Many countries have increased the tax support they provide for research and development (R&D). This column looks at the impact of such support on innovation outcomes.


ECB decisions put lack of fiscal union in the spotlight” (BRUEGEL). The EU needs a proper fiscal union in order to stabilise the economy and inflation. In the contribution are contained four main avenues for achieving a viable fiscal framework.

Completing Maastricht 2.0 to safeguard the future of Eurozone” (VOX). This column argues that reforms have mostly moved the Eurozone in the direction of ‘Maastricht 2.0’, stabilising the Eurozone. But it’s clear that more needs to be done.

Five reasons why the Eu-Turkish refugee deal will not work” (CER). The EU continues to muddle through the refugee crisis, improvising new solutions as it goes along. The latest may prove to be the most controversial of all the measures tried so far.

Europe’s untapped capital market” (VOX). Financial market integration could help the Eurozone’s functioning by facilitating the absorption of asymmetric shocks via private risk sharing.


The G20’s structural reform agenda should address income gap and financial stability fragility” (BRUEGEL). G20 leaders must address major issues like the distribution of income and the structure of our financial systems in order to combat the deeper underlying causes of weak global demand.


Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs.

Herbert Hoover […]


Good health is essential to social and economical development and it empowers all of the public sectors.

World Health Organization […]


Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.

Peter Drucker […]

Human Capital

Talent is a source from which water flows constantly renewed. But this source loses its value unless it is properly used.

Ludwig Wittgenstein […]